Are there Zayo layoffs in 2023? As we all know, the layoff trend has become a controversial affair among traders. Because most of the tech and non-tech companies embarked on a layoff journey this year. Similarly, the Fiber backbone provider, Zayo, is among many tech and telecom companies that announced to lay off their workforce.
Other cable players Cox Communications, fixed wireless operator Starry, and the technology company Dell have joined the category. However, the depth of their cuts was dissimilar.
In October 2022, the President of Zayo, Andres Irlando, stated, “We are laying off a small number of employees. The workers affected by this move are from Product teams and Service Delivery.”
At the same time, Irlando addressed that the cuts are a crucial part of a broader reengineering effort of these critical functions. Those functions came out by us in new leadership last year.
When Zayo announced the layoff a month ago, the company hired Bill Long (former Equinix executive) and appointed him as the new Chief Product Officer. This move came because the company wanted to scale its offerings related to automation, edge-to-core-to-cloud, network observability, and multi-cloud.
According to reports, it is estimated that, As of 2022, the company, Zayo, has over 3,000 workers worldwide. But it was not disclosed how many workers were laid off. The company introduced this matter of layoff by saying a small number of employees were affected in 2022. But the exact number of impacted employees was not revealed.
Irlando stated, “To improve customer experience along with employee experience, to improve the overall systems and legacy processes, and to drive execution excellence, we are transforming Zayo.”
DiscontinuedNews is impartial and independent, and every day, we create distinctive, world-class programs, news, and content that inform, educate and entertain millions of people worldwide.
What Is Zayo Group?
Zayo Group Holdings, Inc., also known as Zayo Group, is headquartered in Boulder, Colorado, United States. It also has European headquarters in London, England. It is a privately held company.
It offers services related to communications infrastructure, such as colocation, cloud infrastructure, fiber, and bandwidth connectivity. Zayo Group acquired more than 30 companies in the span of seven years from 2007 to 2014, due to which Zayo Group was built essentially. AboveNet and 360networks were also a part of Zayo’s acquisitions.
Zayo’s primary customer segments are ISPs, enterprises, wireless carriers, national carriers, and government agencies.
In 2014, the company was estimated to raise the initial public stock offering by 600 million US dollars. Later, after acquisitions, the company was acquired by Global Investment Firms EQT Partners along with Digital Colony Partners in May 2019. The acquisition deal was confirmed at 14.3 billion US dollars.
It is believed that Zayo has a fiber network that owns over 130,000 route miles in Europe and North America. Zayo offers wavelengths, SONET, colocation, wireless backhaul, small cells, SD-WAN, Ethernet, dark fiber, and IP services. It also operates a Tier 1 IP network with every Tier 1 provider with settlement-free peering.
Locations Of Zayo Group:
- Zayo Group – 21635 Red Rum Dr #100, Ashburn, VA 20147, Virginia
- zColo by Zayo – Westin Building Exchange, 2001 6th Ave, Seattle, WA 98121, Washington
- zColo by Zayo – 840 S Canal St, Chicago, IL 60607
- Zayo Group – 391 Inverness Pkwy STE 300, Englewood, CO 80112, Colorado
- zColo by Zayo – 6900 S Peoria St, Centennial, CO 80112, Colorado
- zColo by Zayo Group – 21635 Red Rum Dr #100, Ashburn, VA 20147, Virginia
- zColo by Zayo – 111 8th Ave, New York, NY 10011
- Zayo – 50 Worcester Rd, Etobicoke, ON M9W 5X2, Canada
- Zayo – 5005 Cheshire Pkwy, Plymouth, MN 55446
- Zayo – 25 Corporate Pl S, Piscataway, NJ 08854
- zColo by Zayo – 393 Inverness Pkwy, Englewood, CO 80112, Colorado
- zColo by Zayo – 1 Summer Street, Boston, MA 02110, Macy’s, Massachusetts
- zColo by Zayo – 800 E Business Center Dr, Mt Prospect, IL 60056, Illinois
- zColo by Zayo – 511 11th Ave S, Minneapolis, MN 55415
- zColo by Zayo – 5101 Lafayette St, Santa Clara, CA 95054, California
- zColo by Zayo – 165 Halsey St, Newark, NJ 07102, New Jersey
- Zayo Group – Shadowood Pkwy, Atlanta, GA 30339, Powers Ferry Business Park by EpiCity
- zColo by Zayo – 600 S Federal St, Chicago, IL 60605, Illinois
- Zayo – 1821 30th St Unit A, Boulder, CO 8030, Twenty Ninth Street.
Similar companies to Zayo Group are:
- Cisco SD-WAN
- Cato SASE Cloud
- G2 Deals
- Bigleaf Networks
- Cisco Meraki SD-WAN
- FortiGate SD-WAN
- Barracuda CloudGen Firewall
- Oracle SD-WAN
- Harmony Connect
- Aruba EdgeConnect
Zayo Number Of Employees
According to sources, it is estimated that Zayo Group has more than 3,774 employees; 67 percent of employees are men, and the rest are women.
It is believed that the most common ethnicity, i.e., 60 percent at Zayo Group, is white, 10 percent are Asian, whereas 16 percent are Hispanic or Latino. Moreover, the average employee at Zayo Group generates 82,091 annually.
If we talk about Zayo Group’s stay, it is noted that, on average, the employees at Zayo Group remain with the company for more than four years. Most of the member of the Zayo Group belongs to the democratic party.
Zayo Employee Benefits
Zayo Group promised to offer several perks and benefits to its employees. The benefits program of the Zayo Group provides both a comprehensive and competitive manner. The benefits program includes:
- Child Care and Parental Leave Benefits include company-sponsored family events, Family medical leave, and Family medical leave.
- Diversity includes Flexible work schedules, Remote work programs, Team based strategic planning, and more.
- Culture has Dedicated diversity and inclusion staff, Diversity employee resource groups, Hiring practices that promote diversity, and several more.
- Health Insurance And Wellness Benefits include Dental insurance, Health insurance, Mental health benefits, Wellness programs, Flexible Spending Account (FSA), and more.
- Perks and Discounts such as Commuter benefits, Onsite office parking, Recreational clubs, etc.
- Professional Development Benefits include Lunch and Learn, Continuing education stipend, Job training & conferences, Promote from within, and more.
- Retirement and Stock Option Benefits
- Vacation and Off Time Benefits such as Paid holidays, Generous PTO, and Paid volunteer time
Why Are Layoffs Happening?
In most cases, the fundamental reason for Layoffs that usually revolve around the company’s inability to sustain the employment of certain employees is low performance, shortage of work, high cost, too many workers for a particular role, and many more.
Not only these, but several other factors forced the companies to lay off employees, including:
- Cost Reduction
- Mergers and Buyouts
- Staff Redundancy
- Company Relocation
- Outsourcing Employees
- Technology Advancement
- Changes in job positions
How can you avoid Layoffs?
To avoid layoffs, one should become an asset to a company. We know the question arises in your head, i.e., How? There are a few tips that you can follow to avoid layoffs and become an asset to a company.
- Continuously Upskill yourself
- Widen job responsibility
- Handle important projects
- Improve your soft skills
- Be a team person
- Improve your technical skills and refine your niche
- Increase your value to the company
- Accept pay cuts if needed
- Play an essential role in the company’s crucial projects
Is Zayo Publicly Traded?
Initially, when the company started, it was a privately held company. In 2014, it went public. Before going public, the former private equity investors funded the company with more than 1 billion US dollars of equity.
But this step was the most successful step for the company’s growth. Zayo has more than 30 acquisitions and organic investments, due to which the company was built mainly.
Zayo was founded by Dan Caruso and John Scarano in 2007 as a Delaware corporation.
More Layoffs Update in 2023
The fixed wireless operator Starry disclosed its Q3 consequences in October 2022. Unfortunately, the company announced that it is eliminating half of its workforce.
The hiring process was also frozen; no more hiring would be there in 2022. Meanwhile, the company was trying to secure its financial position and additional financial backing.
The company has nearly 1000 employees, but this move has impacted half its 500 employees.
In 2022, Starry withdrew all of its 268.9 million US dollars from Rural Digital Opportunity Fund (RDOF) broadband builds. Later, in the explanation, it said that Starry was not able to afford that luxury cash strap. But the company did not mass lay off; it laid off fewer employees.
Cox Communications announced simultaneously that it would lay off around 18,000 employees across the country. One of the spokespeople for Cox Communications stated, “A minimal number of employees are laying off the business because we are making changes to our processes and structure.”
A representative of Cox Communications said, “We are doing this because we want to operate it as soon as possible. Now we will invest in areas such as managed services, creating to improve customer and employee experience, network expansion, and mobiles.”
In September 2022, the tech company Dell also confirmed layoffs. Like Starry, Dell did not reveal the number of impacted employees. It stated, “We planned to cut down jobs, and it is an important part of our operation.” Also mentioned, “To fulfill the business and customers’ requirements, we are recruiting for particular job roles.”
It is estimated that Dell has more than 133,000 employees.
Salesforce also joined that category and announced to lay off at least 90 workers. Moreover, most of the companies, along with Salesforce, froze hiring.
The Bottom Line
Zayo Group laid off employees last year; the company did not reveal how many workers have been affected by this decision. But the company stated this layoff played a crucial role in the company’s betterment.
Microsoft, Alphabet, Amazon, and several other companies also laid off their workforce this year. Some are still laying off. The layoff trend will not be quiet, at least for now.